Indust Flashcards
- What is the Bessemer process? How did steel change the US?
A method of processing iron to make steel. It made innovative construction possible
- Between 1865 and 1920 the US was transformed from an agriculturally based economy to an industrial power. What factors led to this significant transformation?
Abundant natural resources, business friendly government policies, and a growing population.
- In what ways did the US take advantage of electricity innovation?
Factories no longer had to be located near water sources = change nature of business
- List all the ways in which technological innovations of industrialization changed lifestyles & working conditions.
a. Cheap travel
b. Outward spread of cities
c. Worldwide communication networks
d. Mass production
e. New jobs for women
f. Shorter work weeks
g. Stopped some of the back breaking labor
- In what ways did the US government promote westward settlement through railroads?
Land grants and loans
- Prior to 1869 how did individual communities determine what time it was? Why was this considered inefficient? What did Professor CF Dowd offer to solve this problem?
Prior to 1869 = the position of the sun = inefficient because sun isn’t in same position for every city. Dowd divides the earth into 24 time zones
- What cities prospered as a result of the railroad?
a. Chicago
b. Minneapolis
c. Abilene, Kansas
d. Flagstaff, Arizona
e. Denver
f. Seattle
- What message did the Supreme Court send to railroad companies in 1877 with the Munn V Illinois decision? How did this differ from the decision made by the Supreme Court in 1886?
a. Munn v Illinois: government had the right to regulate private industry to serve the public interest
b. Supreme Court 1886: a state could not set rates on interstate commerce
- Why was the Interstate Commerce Act passed in 1887?
Public outrages from the supreme court decision of 1886
- What did it establish and what was its purpose?
Interstate commerce commission (ICC) = supervises railroad activity
- To what did Andrew Carnegie credit his huge successes?
a. Hard work
b. Shrewd investments
c. Innovative business practices
An economic philosophy where the success and wealth of an individual is determined by their success or failure in a free market economy
- Explain in your own words the principle of Social Darwinism.
: an industrialist who gained their wealth by undermining their competitors and taking advantage of the free market economy
Robber Baron
: a wealthy person who gives back to the community
Philanthropists
The leaders and most powerful people in their industry
Captains of Industry: